Morning Update! 0.5 Fib Resistance
Updated
So we finally made it to the 0.5 Fibs resistance line. Here we should expect some pullback, if bulls are strong, we will retest this resistance a few times before breaking up higher. Another scenario is a pullback here consolidate a bit in the lower 23000 area before making the next move. I'm starting my call option around the 0.5 on sdow (betting against Dow) to scalp short term in case more news pop up and pushes the price higher. My main short position is the .618 which aligns with the 50MA for now.
Note
In case you're new to fibs, 0.618 is the golden ratio. You use major swing high and low between two points and find the 0.618 to find the bounce or rejection. Here is bitcoin 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.